What percentage of your portfolio should online investing compromise?

With developments in modern fintech (financial technology) and online mobile apps, many users are moving to digital platforms offering more investment and banking features for your money. This leaves us wondering if the traditional personal financial investment is still relevant for the modern mobile app user.

Modern fintech apps

  • Offers borderless banking features, financial services, and credit through mobile apps for users
  • A fintech app offers mobile banking and investment users 24hr access 
  • A mobile app helps with the management of monthly finance and keeps track of money and payments in your bank account through payment alerts
  • Fintech apps offer personal investment in funds and company stocks
  • Monthly or once-off payments can be made into your savings or investment account
  • Withdraw your money whenever you need it – not tied down
  • Usually features a free debit card for purchases if a savings account app
  • Fintech apps feature lower fees than a traditional bank account
  • Buy digital or cryptocurrency on your mobile app
  • Greater transparency in the banking world
  • Simplifies investing for beginner fintech users wanting to grow their financial portfolio and development of wealth
  • Fintech apps even offer features and services for company savings, investment, and transaction accounts
  • Fintech is one of the best ways to supplement personal finance for online users

Traditional financial services

  • Offers bespoke financial planning according to your personal financial circumstance and wealth-building goals
  • Your investment funds are actively managed
  • Your financial advisor actively keeps track of your wealth-building journey and banking habits to regularly review your financial needs and changes in lifestyle
  • Helps you get the best returns for your money and helps build good credit habits like property investment through mortgages
  • Development of a sound and lasting financial plan

Modern fintech apps offer many features, services and conveniences that allow us to invest our money 24/7, anytime we want. Also, our choices of investment possibilities have grown significantly over the last few years. We have access to world-class diversified funds on mobile fintech apps that we never had before. 

 The downside is that these digital mobile apps are generic and offer generalised financial advice and features. It works if you are knowledgeable about funds and investments, but the everyday man on the street is not an investment expert. 

Traditional financial advisors have the expertise and investing experience to help you choose the correct funds for your financial circumstances and financial goals. Nothing beats personal service, knowing that your wealth advisor is there through every step of your personal finance journey advising on the best way to invest and grow your money.

Combining the old (financial services) like deVere, and new digital app technology (Fintech) like Catalyst, is the best way to take advantage of modern fintech mobile apps. You get the convenience of investing from your mobile, backed by solid financial expertise. 

It is ideal to have a solid investment foundation with a reputable financial advisory like deVere Acuma and then supplement your wealth with savings and investment apps. 

Usually, 10-15% of your portfolio can be allocated to alternative investments, including fintech apps.

Chat with your wealth consultant to help you choose the best fintech investment app for your financial situation.

 

Please note the above is for educational purposes only and does not constitute advice. You should always contact your deVere Acuma advisor for a personal consultation.

* No liability can be accepted for any actions taken or refrained from being taken as a result of reading the above.